$1,375,000
$1,615,000
14.9%For more information regarding the value of a property, please contact us for a free consultation.
4 Beds
4 Baths
3,622 SqFt
SOLD DATE : 09/12/2022
Key Details
Sold Price $1,375,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Square Footage 3,622 sqft
Price per Sqft $379
MLS Listing ID 422652468
Sold Date 09/12/22
Bedrooms 4
Full Baths 4
HOA Y/N No
Year Built 1925
Lot Size 3,942 Sqft
Acres 0.0905
Property Sub-Type Quadruplex
Property Description
Price Reduced! 568-574 Merritt Ave is a huge, pride of ownership 4-plex with classic 1920's character centrally located in Cleveland Heights. Built in 1925, the 3,622 SF structure is situated on a 3,941 SF lot. The property has an ideal unit mix of 4 large 1-bedroom, 1-bathroom units that provide the potential opportunity to add bedrooms and convert to 2-bedroom units. The units average approximately 905 SF each. Every unit is individually metered for gas & electric. The property also features 4 secured garages that can be rented out for additional income. The garages provide the potential opportunity to complete an accessory dwelling unit (ADU) conversion & increase the total unit count. The property is also located in the RU-2 Zoning District which may allow for the addition of units. The in place rents are approximately 17% below market rate and provide the opportunity to increase the NOI by 47%.
Location
State CA
County Alameda
Area Oakland Zip 94610
Zoning RU-2
Rooms
Basement Partial
Interior
Interior Features Storage
Heating Radiant, Steam
Flooring Carpet, Linoleum, Tile, Wood
Fireplace No
Window Features Bay Window(s),See Remarks
Appliance Free-Standing Freezer, Free-Standing Gas Oven, Free-Standing Gas Range, Free-Standing Refrigerator, Gas Water Heater
Laundry In Unit, Washer/Dryer Hookups
Exterior
Exterior Feature Yard Space
Garage Spaces 4.0
Roof Type Composition,Shingle
Total Parking Spaces 4
Building
Lot Description Shape Regular
Story 3
Foundation Concrete, Concrete Perimeter, Piling
Sewer Public Sewer
Water Public, See Remarks
Level or Stories Three Or More
New Construction No
Others
Tax ID 0230420020
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